Price Discounts Everything (this is NOT the Efficient Market Theory)

Technical analysis is a kind of market analysis that compared to the fundamental analysis does not require constant monitoring of vast amount of information from various sources. On the contrary, it is based on the belief that all relevant information are already reflected in the market price and any new information will impact the price as soon as they are released. That's why for the purpose of conducting technical analysis, all you need to watch is market price and volume traded. In case of futures, you need to watch for another figure – the open interest indicator (the amount of currently outstanding contracts in the market). Hence, it is completely sufficient for a purely technical trader to have only a data feed consisting of market price and volume traded in real time, which is usually already included in a broker's basic fee. We can say that while a fundamental analyst attempts to determine or at least estimate a company's intrinsic value, a technical analyst does not concern himself with this value at all. 
His only concern is whether the price of its shares will go up or down in the future. But, as opposed to a fundamental analyst he does not care why this happens. Thus, a technical trader does not have to subscribe to expensive information services such as Reuters or Bloomberg, and hence he can save a lot of money. Moreover, technical analysis can be applied practically to every market – to equities, bonds, commodity futures, currencies, etc. Therefore, a technical analyst has a substantial advantage over his fundamentally oriented peer, because he can always choose to trade the market in which there is currently most action, as he is not bound to a particular market.